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September 2004
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| CHINA BY THE NUMBERS |
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Ratio of Auto Sales to Production Hits A Record High in August
The rate of China's auto sales to production hit a record high of 101.9 percent
this August, sources from the China Association of Automobile Manufacturers (CAAM)
said Wednesday.
In August, China manufactured 375,200 autos and sold 382.300, up 5.79 percent
and 10.5 percent from July respectively. In the same month, 171,900 sedans were
produced and 170,300 sold, growing 0.02 percent and 0.23 percent respectively.
The total number of trucks and buses sold were both 4,000 more than their
production.
China produced 3.4057 million automobiles and sold 3.28 million in the first
eight months of this year, with the ratio of sales to production at 96.31
percent.
An official from CAAM said the sales volume of cars in China has declined for
five months since last March. This August began to see the first rise in the
ratio of sales to production, thanks to adjusted marketing strategies by
automakers.
With the week-long National-holiday approaching, the official predicted that
sales volume will continue to rise in September and October.
Source: Xinhua Agency
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GDP to grow 9% in 2004, 7.5% in 2005
China's real gross domestic product (GDP) is projected to average around 9
percent in 2004 andto slow to about 7.5 percent in 2005, the International
Monetary Fund (IMF) said Wednesday. In April, the IMF estimated that the Chinese
GDP growth would be 8.5 percent this year and 8 percent next year.
"Executive Directors commended the Chinese authorities for their skillful
economic management, which has reduced the risk of overheating and further
strengthened the Chinese economy," the IMFsaid in a statement nearly a month
after its Executive Board concluded an annual review of China's economy.
The statement said, "Efforts to rein in credit and slow investment appear to
have started to bear fruit, as evidenced by the recent signs of moderating
economic expansion."
กก"The key challenge going forward will be how to harness the strong
potential for sustained economic expansion in China, while maintaining
macro-economic balance and ensuring sound, broadly-based economic development,"
it said.
It said that the Chinese authorities must speed up reforms in key areas
including banks, state companies and labor markets to achieve a controlled
deceleration.
"A crucial short-term concern is that despite the recent indications of
moderation in the fast pace of investment and economic growth, a soft landing of
the economy is not yet assured," it added.
A soft landing implies a slowdown in booming economic growth that avoids
degenerating into a slump.
Source: Xinhuanet
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